In a sign of Waterloo Region’s growing strength as a centre for Internet of Things technology, ESCRYPT – also known as ETAS Embedded Systems – has expanded its local office developing IoT security products and services.
On Monday, ESCRYPT opened a newly renovated 11,000-square-foot space at 419 Phillip St. in Waterloo, a short walk from the University of Waterloo campus. The opening of the new space comes just over four months after ETAS, a subsidiary of German-based Bosch Group, acquired TrustPoint, the Waterloo-based IoT security company.
“With our recent acquisition of TrustPoint Innovations and our plans to continue to grow in the immediate future, it made sense to locate in Waterloo and find a location that we could make our own,” David MacFarlane, General Manager of ESCRYPT in Canada, said in a news release. “The decision to open our Canadian headquarters in Waterloo Region was based on the area’s reputation and culture of innovation and entrepreneurship.”
TrustPoint was founded in 2012 by the late Dr. Scott Vanstone, a renowned cryptographer, and Sherry Shannon-Vanstone. Through the acquisition, ESCRYPT boosted its technical expertise in elliptic curve cryptography and in designing security credential management solutions for IoT applications.
Monday’s office opening was attended by a number of local dignitaries who celebrated it as a sign of the region’s expanding cyber security cluster in the field of embedded systems.